GBP/USD rises, approaching 1,3800 with the US dollar in long -term minimal
The pound is accelerating its upward trend on Tuesday, without being affected by the data of the United Kingdom manufacturing PMI, quite negative. The weakness of the US dollar is promoting markets today, with uncertainty about tariffs, renewed concerns about US fiscal health and an increase in bets on fed cuts that crush the demand of the US dollar.
The manufacturing activity of the United Kingdom has remained stable at 47.7 in June, but the new orders, employment and production have decreased with respect to the previous month, which points to greater contraction in the coming months. Read more…
GBP/USD forecast: The sterling pound could face strong resistance in 1,3830
GBP/USD acquires bullish impulse after the volatile action of Monday and trades at its highest level since October 2021, above 1,3770. In the second half of the day, US macroeconomic data publications and the comments of the central bankers could promote the action of the pair.
After the sharp fall of the previous week, the US dollar index (USD) remains under bass pressure early on Tuesday, feeding the GBP/USD rally. The atmosphere of positive market market and the growing political pressure on the Federal Reserve (FED) continue to weigh on the USD. Read more…
GBP/USD forecast: Can the pound rally sterling keep while the dollar falls and increase risk tensions?
With the US dollar under pressure and the United Kingdom data stabilizing, the sterling pound could extend its profits – But fragile feeling and political risks can limit the rise.
The sterling pound is being negotiated with a cautiously bullish tone, finding strength above 1,3700 while the US dollar loses impulse. While Fed rate cuts bets and the fall in the yields of the US bonds continue to drag the dollar down, the pound profits are more a reflection of the weakness of the dollar than of an overwhelming strength of the United Kingdom. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
